Ethics in Blockchain Arbitration: Implications for ADR in India’s Digital Age

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Ethics in Blockchain Arbitration: Implications for ADR in India’s Digital Age

Ishaan Deepak Joshi[1]

ABSTRACT

The Indian Arbitration Act of 2021 and the Information Technology Act of 2000 are having a profound impact on Indian dispute resolution, particularly in the realm of arbitration. The Indian Arbitration Act of 2021 provides a comprehensive framework for arbitration procedures and the enforcement of awards, while the Information Technology Act of 2000 governs electronic transactions and grants legal validity to electronic documents. Presenting a thorough framework with the Digital Data Protection Act of 2023 to protect personal data requires a careful examination of its effects on arbitration. When discussing ethical issues in Indian arbitration, it’s crucial to strike a balance between transparency and confidentiality standards, particularly given the decentralised nature of blockchain technology and the potential vulnerabilities in smart contracts. Highlighting legislative reforms, ethical best practices, and compliance with cyber laws, particularly the Digital Data Protection Act, is crucial for upholding ethical arbitration in the digital age. Studying global legal frameworks offers valuable insights into effective strategies, potential challenges, and innovative solutions implemented in various jurisdictions. Integrating blockchain technology and smart contracts into Indian arbitration signifies a major change, requiring a delicate balance between innovation and ethical considerations. This article highlights the importance of legislative adaptations and ethical frameworks to ensure the ethical progress of arbitration in the changing digital environment.

KEYWORDS

Blockchain Arbitration, Ethical Considerations, Data Protection, Legal Frameworks, Dispute Resolution Innovation

[1] President, ADR Society – MIT-WPU Faculty of Law

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